probability

Probability

The relative likelihood of a particular outcome among all possible outcomes.

probability

the likelihood of a particular uncertain event occurring, measured on a scale from 0.0 (such an event is impossible) to 1.0 (such an event is certain to occur). People generally estimate probabilities on the basis of the relative frequency with which an event has occurred in the past, under given circumstances, and generalize from this past experience. In some circumstances it is easy to estimate the proportion of occasions on which an event occurs; for example, the probability of getting ‘heads’ when flipping a balanced coin is 0.5 because with such a coin in the long run we would get 50% ‘heads’ and 50% ‘tails’. In estimating probabilities in business situations, though, there may be no or only a few previous experiences that can be used to gauge the relative frequency of an event occurring. See also RISK AND UNCERTAINTY.

The probability of incompatible alliances between the different States or confederacies and different foreign nations, and the effects of this situation upon the peace of the whole, have been sufficiently unfolded in some preceding papers.

In the fullness of his belief that such a thing must be, he mentioned its probability to his wife; and the first time of the subject's occurring to her again happening to be when Fanny was present, she calmly observed to her, "So, Fanny, you are going to leave us, and live with my sister.

It was no wonder that the general should shrink from the sight of such objects as that room must contain; a room in all probability never entered by him since the dreadful scene had passed, which released his suffering wife, and left him to the stings of conscience.

I thought of all the suspicious objects scattered about the room, of the probability that he was only putting this question to try my courage, of the very likely chance that he would shoot me forthwith, if I began to prevaricate.

It is interesting thus to find the once domesticated cattle breakin into three colours, of which some one colour would in al probability ultimately prevail over the others, if the herd were left undisturbed for the next several centuries.

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